Fast Growing DigitalOcean Receives $50 Million to Expand in Every
Direction

The successful startup will continue to broaden its international
presence

December 09, 2014 11:28 AM Eastern Daylight Time

NEW YORK--(EON: Enhanced Online News)--DigitalOcean, the young cloud provider built for developers, today
announced that it has secured a $50 million credit facility from funds
managed by leading global investment firm Fortress Investment Group LLC.
This announcement comes on the heels of Netcraft’s report detailing
DigitalOcean’s meteoric rise to the third
largest hosting company in the world.

“This financing illustrates Fortress’s continuing interest in the data
center and cloud services industries. In our view, DigitalOcean is well
positioned to succeed in the expanding cloud infrastructure sector”

"This financing illustrates Fortress’s continuing interest in the data
center and cloud services industries. In our view, DigitalOcean is well
positioned to succeed in the expanding cloud infrastructure sector,"
said Aaron Blanchette, Managing Director at Fortress Investment Group
LLC. "We look forward to playing a part in DigitalOcean's organic
expansion as they bring their cloud offerings to more international
users."

This October was the company’s biggest month yet in terms of customer
acquisition, with more than 26,000 new active users – a 57 percent
increase from October 2013. “Each month this year we’ve seen an average
of 20,000 new users deploying servers on our platform,” said Karl
Alomar, COO of DigitalOcean. “A large line of credit makes sure we’re
able to lease more equipment at more favorable rates and scale globally
to keep up with international demand.”

This is exciting news for international customers who are not located
near one of DigitalOcean’s current five locations (New York, San
Francisco, Singapore, London and Amsterdam). It’s also promising for
developers anxious to see the company continue to expand its feature
set, as some of the capital will be invested in hiring top engineering
talent.

“We plan to triple our employee count before the end of next year,” said
Ben Uretsky, CEO of DigitalOcean. “With more engineering talent comes
quicker feature releases. We are taking steps every day to become a more
complete cloud solution, and we need the best engineering talent in the
world to help get us there.”

About Fortress Investment Group

Fortress Investment Group LLC is a leading, highly diversified global
investment management firm with approximately $66.0 billion in assets
under management as of September 30, 2014. Founded in 1998, Fortress
manages assets on behalf of institutional clients and private investors
worldwide across a range of private equity, credit, liquid hedge funds
and traditional asset management strategies. Fortress is publicly traded
on the New York Stock Exchange (NYSE:FIG).
Visit www.fortress.com.

About DigitalOcean

DigitalOcean, Inc. (http://www.digitalocean.com
/ @digitalocean) offers
simple SSD based cloud hosting. Headquartered in New York City,
DigitalOcean has spun up more than 2 million cloud servers since its
inception.

Users can create a cloud server in 55 seconds, and pricing plans start
at only $5 per month for 512MB of RAM, 20GB SSD, 1 CPU and 1TB Transfer.
Featuring a 99.99 percent Uptime SLA, DigitalOcean has servers located
in New York, San Francisco, Amsterdam, Singapore and London. The
interface has a simple, intuitive control panel, which power users can
replicate on a larger scale with the company’s straightforward API.

DigitalOcean uses KVM virtualization and additionally hosts a library of
helpful walkthroughs and tutorials that cover server configuration and
optimization. For more information, please visit http://www.digitalocean.com
or email press(at)digitalocean(dot)com.